Chinese tourists are splurging around $74 million per day on holidays in the United States, according to a report by state-backed Xinhua News Agency.

Fashion retailers, hotels, and luxury stores were the top three destinations where most of the tourists from China spent their money. Fashion retailers accounted for almost a third of their overall spending.

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Last year, the number of Chinese tourists bound for the United States jumped by 18 percent to 2.59 million compared to 2014. Last year also marked the year when China surpassed Brazil as the fifth largest source of tourists traveling to the United States.

While most tourists consider spending abroad as a way to offset travel expenses since prices are relatively lower abroad, Zhao Ping, a researcher from the China Council for the Promotion of International Trade, pointed out that Chinese tourists' spending enthusiasm comes from their increasing national income.

"The increasing overseas spending can be attributed to the higher income of Chinese citizens. Japanese and Korean tourists' overseas spending maintained a high growth rate of between 30 and 40 percent before the Japanese and South Korean per capita GDPs reached $10,000," Zhao said. "China, with a per capital GDP of $8,000, is still in the period of high-speed growth, and the trend will continue."

The United States' relaxation of visa rules for Chinese tourists also helped the country become a hot destination. In fact, training programs and summer camps have become a fad among Chinese tourists looking to spend a holiday in the United States.

Tourism accounts more than half (59 percent) of the total volume of service products that the US exports to China, according to China Radio International.

TagsChinese Tourists, tourism, Travel